Stimulus hopes European stocks, Dow futures will rise

U.S. President Trump waved from behind a car in a car outside Walter Reed Medical Center in Bethesda, Maryland, on May 4, 2020.

Alex Edelman / Agence France-Presse / Getty Images

U.S. European stocks rallied on Monday in anticipation of the last economic stimulus in the economy ahead of the election, as well as clear results on election day.

Stoxx Europe 600 SXXP,
+ 0.56%
German DAX rose 1%, with similar size gains for DAX
+ 0.48%,
French CAC 40 PX1,
+ 0.65%
And UK FTSE 100 UKX,
+ 0.32%.
Gainers include steel maker ThyssenKrupp TKA.
+ 4.74%
And ArcelorMittal Mt,
+ 1.97%.

Dow Jones Industrial Futures on the Industrial Average YM100,
+ 0.55%
Increased 202 points.

Politico reports that House Speaker Nancy Pelosi as well as Treasury Secretary Steven Munchin consulted with Federal Reserve Chair Jerome Powell on his stimulus plan negotiations. It is unclear what the Fed will play, if any. The central bank had a role in the first stimulus scheme. Pelosi said separately in an interview with CBS that airlines should not fire workers, and that assistance would be undone.

In addition to a brief car ride, President Donald Trump spent the weekend at Walter Reed Medical Center, recovering from COVID-19. In or out of the hospital, a recent public opinion poll decides Biden, his decisive, former vice president.

“Financial markets have eased expectations of long-term uncertainty after the election and now there is little concern about an imminent and contested election,” Barclays strategists said in a note to consumers. Strategists said Trump’s hospitalization could prove to be a “political trigger” that brings a stimulus deal to the finish line.

Also on the political front, UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen issued a statement urging their negotiators to “work hard” to make a trade deal, as Johnson also announced in an interview that he was free. Ready to be Trading block without one.

News on the Coronavirus front continued to be worrisome, with bars close to Paris closing, although its restaurants would remain open, and Marseille would reopen them.

Cineworld CNE,
The stock fell 0% as it said it would suspend operations at its 6536 Regal theaters in the U.S. and its 177 Cineworld and Picturehouse theaters in the UK from Thursday. Cineworld said it was “evaluating several sources of excess liquidity.”